Overview
Japan’s most popular brand, Toyota, finally breaks the news to launch the first locally assembled hybrid electric car in Pakistan. Toyota Japan working in Pakistan with Indus Motor Corporation (IMC) and this is the first production e-power. this is a big achievement for the company to enter its locally assembled plant into EVs production.
IMC has breaks the news after months of anticipation and it’s super exciting news for automotive industry development. The CEO of IMC Ali Jamali highlights the launch of their first hybrid vehicle. He shared the update of the $100 million investment in this project. Moreover, the purpose of this huge investment is to reduce import expenses.
First Hybrid Electric Car For Pakistan
The first vehicle is the Toyota Corolla Cross which will launched with an approximate annual saving of $ 37 million. Ali Jamali explains the production scales up to 30,000 HEV which will be a big achievement for the company and give impressive profit annually.
For a long time, social media discussed the launch of a new locally assembled Corolla Cross with hybrid electric power. but due to economic grapples with inflation, IMC was not in a position to introduce the vehicle. They are facing economic instability which makes hurdles on the launch way.
The recent appreciation of the rupee value had good effects on our economy. It controls the inflation rise and help business to move toward some new development.
Conclusion
In the previous few months automotive industry faced several shocks and troubles in production. The LCs approval was a big issue and high taxes caused low sales. Due to the depreciation of the rupee in the past car prices experienced a record high rise. On the other side, car enthusiasts waiting long for the launch of this vehicle in Pakistan. imported EVs become very expensive after customs clearance. They are expecting high for a reasonable price locally assembled hybrid car.
